The Future of Marketplace Selling: Automation, Personalization's and Profitability

Want to know how to sustain an ecommerce business and enhance revenue? It has been growing at a rapid pace, and thus, it has undergone many changes that have transformed it in a better way. Many technologies and marketing tactics have revolutionized the ecommerce business in the past few years. Automation and personalization are two domains that have become a crucial part of online commerce. In this blog, we will explore how these two elements have been integrated in ecommerce to increase the profits of sellers. 

How is Automation Revolutionizing E-Commerce Operations? 

1. Optimized Inventory Management 

Inventory management is responsible for the performance of many other business processes, such as order fulfillment, shipping, etc. If the enterprises want to scale globally, they have to manage inventory at various locations to fulfill orders faster. However, it is not only difficult to manually manage inventory; it also comes with operational hurdles that can impact business performance. Hence, enterprises need to automate inventory management so the items never run out of stock. Overstocking is also a major issue that poses a challenge to ecommerce sellers. So what should online retailers do? The easiest way is to leverage an integrator that automates inventory-related processes. 

2. Faster Order Processing 

The orders are required to be processed as soon as it is received on the online store. If the merchants are manually processing them through various stages, such as packing the products, labelling them, and shipping them, it will delay order processing, which impacts business efficiency. Therefore, they must deploy automation technology that would make the process fast and efficient. 

3. Swift Order Fulfillment and Shipping 

Fast shipment is quite important for enhanced customer satisfaction as it is directly related to the buyer’s expectations. Many sellers struggle with managing logistics and shipping, which delays order delivery to the shopper. Therefore, sellers have to deploy techniques that can make the fulfillment process faster so it can reach the customer in time. 

4. Efficient Warehouse Management 

Usually, businesses manage warehouses and update the item records manually. This delays the process of identifying and locating the products, which impacts the order fulfillment. Many third-party logistics companies are utilizing automation and other techniques to revolutionize their warehouse management. This has improved the efficiency of the staff, as they can locate the products in time and send them to fulfill orders faster. 

5. Managing Taxes and Finances Globally 

For scaling an ecommerce business globally, it is important to manage the finances across the world in multiple currencies. Not just this, they have to manage various taxes that are different in various countries. It is quite difficult, and if it is managed manually, it takes a lot of time and resources, which impacts business efficiency. So, any enterprise looking forward to scaling worldwide, financial issues can limit their expansion. Again, the best possible way to overcome these financial hurdles is to automate the process. 

6. Multichannel Selling Made Easier 

Many sellers manage multiple sales channels, while many want to explore multi-channel selling. However, it comes with various operational issues, and sellers look for an option through which they can not just automate the processes, but also help them manage issues on one platform. It helps make the management easier, and they can focus on business growth. 

Therefore, if sellers want to optimize their business processes and grow seamlessly, automation is the key. MapMyChannel is one such platform that automates various ecommerce operations and offers real-time inventory sync, tracking sync, order sync, and price sync. It offers many more advanced features, such as hold order, inventory buffer, and a unified dashboard to manage multiple integrations and get relevant reports and analysis. 

The Power of Personalized Selling 

While automation helps the sellers manage ecommerce operations seamlessly, personalization enhances customer experience. Let us see how personalization is deployed in ecommerce selling: 

1. Personalized Recommendations: 

Every shopper wants to buy products that match their interest. It is a major roadblock for sellers to find out what their customers like and are interested in which product category. For this, they can leverage artificial intelligence and machine learning for understanding customer behavior and analyzing their data to make personalized recommendations.  

2. Increased Sales Conversion: 

Personalization increases the chances of sales, and they are targeted to the interests of the buyers. Hence, it is not enough for the sellers to showcase good products, but the ones that resonate with their customers’ interests. It gives better chances of converting to sales than those without personalization. 

3. Sales Growth of Products with Higher Value 

No shopper wants to invest money in a high-priced product that is not relevant to their needs and interests. A Harry Potter book lover can buy those books at higher prices if the seller knows that the buyer likes such stuff. However, if they try to sell an autobiography to such a buyer who has not even searched for it, there are high chances that they would not purchase the book even if it costs less. This is how personalization helps the sellers not just increase sales but also increase sales of higher average order value. 

4. Better Customer Engagement and Experience 

Personalization helps the sellers offer an enhanced customer experience as they interact with products of their interest. This improves the engagement, which helps in better ranking of the products and an improved return on investment. 

Enhance Profitability with Automation and Personalization 

Sellers at all ecommerce marketplaces want to grow and increase sales of their products. Automation helps them enhance their ecommerce operations for various marketplaces, which indirectly improves their profitability. Personalization also helps them augment sales, as they target the right buyers, which enhances their profits extensively. Sellers can leverage both these superpowers by integrating their marketplaces and ERP or fulfillment providers, or a third-party logistics provider, with MapMyChannel. It is a powerful application that helps sellers utilize the maximum potential of their marketplaces using automation and other advanced features. 

Still waiting? Take a futuristic step with us to stay ahead of the curve and enhance your business profitability.